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European Shares Rise On Upbeat Data


European shares rose on Tuesday as trade talks between the U.S. and China appeared to be nearing their conclusion and a report showed new home prices in China grew slightly faster in March, signaling an economic rebound.

China will publish first quarter GDP growth figures tomorrow, along with monthly industrial output and retail sales numbers.

Closer home, the German ZEW economic sentiment index rebounded to 3.1 percent in April, versus 0.8 expected and -3.6 last.

Official data showed the U.K. unemployment held at a 44-year low of 3.9 percent in February, versus analyst consensus of 4 percent.

The pan European Stoxx 600 was up 0.23 percent at 389, extending gains for the fifth straight session.

The German DAX was rising 0.6 percent, France's CAC 40 was marginally higher and the U.K.'s FTSE 100 was moving up 0.4 percent.

Italian lender UniCredit advanced 1.6 percent. The bank and its two subsidiaries have agreed to pay penalties totaling approximately $1.3 billion after reaching settlement agreements with U.S. and New York authorities.

Steel pipe maker Tenaris rallied 2 percent as the Argentine court reversed a decision against the company's chief executive and chairman.

Deutsche Lufthansa was little changed. The German airline said its adjusted EBIT was negative 336 million euros for the first three months of 2019, compared to 52 million euros last year.

Energy stocks BP Plc, Total SA and Royal Dutch Shell were down between half a percent and 0.8 percent as oil extended losses on talk of Russia and OPEC possibly boosting crude output.

Zalando shares jumped 10 percent after the German e-commerce company said it posted an operating profit in the first quarter.

JD Sports Fashion rallied 3.7 percent in London on reporting better-than-expected full-year earnings.

Ashmore Group jumped 3.3 percent after its assets under management for the quarter ended 31 March 2019 increased 11.2 percent.

Recruiter Hays lost 3.8 percent after its quarterly net fee growth fell short of market expectations.

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